Rehabilitated Mixed-Use
For Sale
Under Contract
$1,165,000
116-118 S Water Street, Wilmington, IL 60481
Commercial Sale, Wilmington, IL
Property SizeContact for details
Lot Size0.30 Acres
Days on Market139
Property Features for 116-118 S Water Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
just South of the intersection of E. Baltimore St
Subdivision
Wilmington
Standard status
Active Under Contract
APN
0317253140110000
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6322
Utilities
Cooling system
Central Air
Building Details
Year built
1914
Floors in Building
1
Number of units
10
Flooring type
Concrete
Building materials
Block, Wood
Listing Agency:
RE/MAX Ultimate Professionals · RE/MAX International
(815) 725-4545
Listed By:
Daniel Condon · License #475178004
(708) 710-0267
Added: Apr 28
Changed: Aug 19
Last Checked: Sep 13 at 10:06PM
MLS# 12631492
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial property at 116-118 S. Water Street brings together retail, bar, and office suites within a professionally rehabilitated building. The existing configuration includes leased spaces, ADA-compliant bathrooms, concrete flooring, and central air conditioning. Block and wood construction support the building’s established commercial character, with a recorded year built of 1914.
The property occupies a downtown Wilmington setting along the water, placing the building within the city’s central commercial corridor. Its location and varied suite mix support continued use across retail, hospitality, office, and entertainment functions, subject to applicable approvals. The zoning information is not presented consistently in the source data and is therefore omitted.
The property occupies a downtown Wilmington setting along the water, placing the building within the city’s central commercial corridor. Its location and varied suite mix support continued use across retail, hospitality, office, and entertainment functions, subject to applicable approvals. The zoning information is not presented consistently in the source data and is therefore omitted.
Key Highlights
- Mixed‑use configuration with retail, bar, and office suites
- Professionally rehabilitated commercial building with leased spaces
- ADA‑compliant bathrooms throughout the property
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 60481, IL
11,518
Population
5,553
Households
2.1
Avg Household Size
46
Median Age
17%
College-Educated
92%
High-School Grad
123.5 sq mi
ZIP Area
93
Density / Sq Mi
$76,398
Median Household Income
$45,563
Median Earnings
$975
Median Rent
$224,800
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial building combines leased retail, bar, and office suites with ADA-compliant bathrooms and central air.
Where is this mixed-use property located?
The property is located at 116-118 S Water Street Wilmington, IL.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Mixed‑use configuration with retail, bar, and office suites; Professionally rehabilitated commercial building with leased spaces; ADA‑compliant bathrooms throughout the property
